Curbstone Financial Management Corp Increases Stock Position in Chevron Co. (NYSE:CVX)

Curbstone Financial Management Corp grew its holdings in Chevron Co. (NYSE:CVX) by 15.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,112 shares of the oil and gas company’s stock after buying an additional 2,168 shares during the period. Curbstone Financial Management Corp’s holdings in Chevron were worth $2,695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter valued at about $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter valued at about $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC raised its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CVX shares. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler dropped their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Finally, Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Up 1.9%

Shares of CVX opened at $143.40 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average is $138.21 and its two-hundred day moving average is $149.46. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $250.43 billion, a P/E ratio of 14.75, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.77%. Chevron’s dividend payout ratio is presently 78.17%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.